"China Top 100 Clothing" Cool Smart IPO Approved, Spend 400 Million To Build Flexible Smart Factory In Jimo

In the evening of May 22nd, the SFC approved the first application of Qingdao cool intellectual Limited by Share Ltd (hereinafter referred to as "cool intelligence") according to the statutory procedures. The company and its Underwriters will confirm the issuance schedule with the Shenzhen stock exchange gem and publish the prospectus.

Cool intelligence was founded in December 28, 2007. The company is located at 17 Hongling street, Jimo, Qingdao, Shandong. The strategic goal of the company is to become a global customized clothing brand enterprise with brand name, management science, strong innovation ability and core competitiveness. By setting up a customized service platform, manufacturing personalized products by means of industrialization and efficiency, we are committed to providing users with high-quality and cost-effective personalized customization experience.

The reporter noted that the estimated cost of the issuance of cool intelligence was 40 million 791 thousand and 300 yuan, including 29 million 230 thousand yuan for underwriting and sponsorship, 5 million 226 thousand and 400 yuan for auditing and capital verification, and 1 million 84 thousand and 900 yuan for lawyers, which was 4 million 905 thousand and 700 yuan for information disclosure and 344 thousand and 300 yuan for issue fees.

The cool special intelligence project raised 315 million yuan for Flexible Smart factory new projects and intelligent logistics warehousing, big data and R & D Center complex projects.

The new project of the flexible smart factory is planned to be located at No. 17 Hongling street, Jimo City, Qingdao, Shandong. The planned construction period is 24 months, and is divided into 2 stages: the first stage ends from first months to twelfth months, and completes the construction of infrastructure projects; the second stage ends from seventh months to the end of the construction period, including the completion of the decoration, production equipment purchase, installation and commissioning, and at the same time. Production, management, administrative personnel recruitment training and trial production. The project is expected to be successfully put into operation in third years, reaching 80% in that year and fully released in fourth years.

The total investment of the new project of Flexible Smart factory is 277 million 818 thousand and 400 yuan, of which 237 million 818 thousand and 400 yuan for construction investment and 40 million yuan for liquid capital investment. The project design capacity is 310 thousand sets of individualized suit suit products and 300 thousand customized shirts.

The two types of customized clothing products produced by the project plan have obvious economies of scale after the construction project has entered a stable operation period. According to the estimated production year, the sales revenue can reach 465 million 695 thousand and 800 yuan. After comprehensive calculation, the internal rate of return (or "internal rate of return)" after the project income tax is 12.95%.

The construction site of intelligent logistics storage, big data and R & D Center complex is planned to be located at No. 277 Zhujiang two road, Jimo, with a planned construction period of 24 months. The infrastructure works are completed in the first 12 months. The procurement and installation, staffing, system building and commissioning of hardware and software facilities are completed from fourth months to the end of the construction period.

The total estimated investment is 139 million 793 thousand and 200 yuan. Among them, construction investment is 105 million 208 thousand and 700 yuan (including construction cost 21 million 850 thousand yuan, software and hardware purchase and installation cost 79 million 389 thousand and 200 yuan, installation cost 3 million 969 thousand and 500 yuan); research and development cost is 34 million 584 thousand and 500 yuan (including personnel cost 26 million 344 thousand and 500 yuan, project research and development investment 8 million 240 thousand yuan).

The prospectus shows that cool is mainly engaged in garment design, R & D, manufacturing and sales with the core of mass customization. Customers customize their designs and orders through network terminals or offline stores. The system converts personalized orders into specific data and dismantling the standard instructions of each node. The company meets the customization needs of consumers through flexible production, logistics and distribution. With the help of Internet and big data technology, the company has driven the mass production of customized garment. In the middle of saving production and marketing chain, reducing product cost and shortening delivery time, it has met the different requirements of consumers for professional attire, clothing comfort and fashion pursuit. The company's customized clothing products include men's and ladies' formal suits, including suits, trousers, vest, skirt, shirt, coat and windbreaker.

Coolet intelligence controls human Zhang agency and its concerted action people Zhang Lanlan and Zhang Yan, Zhang agent and Zhang Lanlan as father daughter relationship, Zhang agent and Zhang Yan as father son relationship, Zhang Lanlan and Zhang Yan as sister and brother relationship.

Prospectus shows that in 1995, Zhang founded the "red collar" brand in Qingdao and began to engage in clothing production and sales. With the maturity of the intelligent production line, Zhang acting family decided to start with the cool intelligence as the center in 2013, and began to focus on the development of customized clothing business. In 2013 -2015, 2013, cool special intelligence was mainly responsible for the market development of custom garment business. It includes market research, strategic planning, marketing and product pricing system. At the same time, cool smart began to seek cooperation with suppliers and purchase fabrics independently. During the period, cool's intelligence will be entrusted to the "red collar" series company (new Kai Run) for processing and production. After two years of operation, the issuer has a certain amount of customer base through the market development. The business is running smoothly and the prospects for development are good. The Zhang family has decided to shift the future business development center to the customized business and gradually abandon the standard clothing business of the original "red collar" company. Therefore, in October 2014 and April 2015, cool intelligence acquired the production land plant through the acquisition of cool net stock option, and obtained the production machinery and equipment through the purchase of production equipment. Since then, cool intelligence has the ability to produce customized clothing independently.

Cool smart is mainly engaged in garment design, R & D, manufacturing and sales with the core of mass customization. Customers customize their designs and orders through network terminals or offline stores. The system converts personalized orders into specific data and dismantling the standard instructions of each node. The company meets the customization needs of consumers through flexible production, logistics and distribution. With the help of Internet and big data technology, the issuer is driving mass customization of personalized clothing, while saving the middle links of production and marketing chain, reducing product cost and shortening delivery time, it also meets different demands of consumers for professional attire, clothing comfort and fashion pursuit. With the help of information technology, mass customization of personalized products with the efficiency and cost of industrialization is the most important feature and advantage of issuers from traditional garment manufacturing.

The custom clothing products of cool smart include men's and ladies' suits, including suits, trousers, vest, skirt, shirt, coat and windbreaker. In addition to the production of customized garment products, based on the rich experience in mass customization production, the company is also engaged in exporting factories to other enterprises to upgrade the overall solution business, providing other enterprises with training and consulting services related to the upgrading and upgrading of intelligent production lines.

The main business of cool intelligence is the production and sale of clothing at the core of customization. It mainly includes three sales modes, namely, customized ODM, customized OBM and personalized custom occupation. For the B clients at home and abroad, the company carries out production by OEM. For the C clients in the territory and the customer orders of the professional clothing group, the company produces and sells its own brand.

Cool smart OBM category own brand includes "CotteYolan", "red collar", "Rui Pu" (collectively, "own retail brand"). Among them, the main consumer groups of "CotteYolan" and "red collar" are customers who have demand for products such as formal clothing.

In recent years, 40%-45% has come from overseas sales, and 55%-60% has come from domestic sales. In the first quarter of 2020, affected by the epidemic, restrictions on travel and consumption establishments were suspended in all parts of the country. The impact of the epidemic on domestic sales revenue was relatively large. With the gradual control of domestic epidemic situation, the adverse effects are being gradually eliminated. But at the same time since April 2020, the outbreak of the epidemic in foreign countries, resulting in a significant decline in foreign sales revenue. Overall, the average daily clothing orders for the first quarter decreased significantly compared with the same period. The suit products decreased by 400-500 sets per day, and the shirts were 400-500 pieces / day. The original business revenue in the first quarter of 2020 was 69 million 346 thousand and 500 yuan, down 35.89% from the previous business income of 108 million 168 thousand and 700 yuan in the same period last year.

According to the financial report, in 2020 1-3, the sales revenue of cool intelligence was 113 million 237 thousand and 600 yuan, an increase of 4.69% over the same period last year. Net profit attributable to shareholders of the parent company was 18 million 830 thousand and 200 yuan, an increase of 113.97% over the same period last year. The net profit attributable to the parent company after the deduction was 17 million 777 thousand and 300 yuan, an increase of 118.68% over the same period last year.

At present, the global epidemic is still not fully controlled, and the negative impact of the epidemic on the company's clothing business is expected to continue in the two quarter. It is estimated that the original business revenue in the first half of this year will reach 15380.51-16689.41 million yuan, which is about 262 million 871 thousand and 200 yuan lower than that of the same period last year, and it will be reduced by about 36.51%-41.49%.

After the outbreak of the outbreak, cool intelligence also made use of the personnel and equipment advantages of garment enterprises to respond to the government's call for the production of epidemic protection materials. In February 14th, the company's declared isolation clothes obtained the first class medical device record voucher issued by the Qingdao food and drug administration, and the record number was Lu Qing Yi Bei No. 20200182. In February 20th, the company obtained the emergency examination and approval of medical devices of Shandong Provincial Drug Administration (lufa emergency: 2020-0159), and agreed that the two kinds of medical device products (medical masks) declared by the company entered the emergency assessment channel for medical devices. In March 16th, the company obtained the registration certificate of two types of medical devices: disposable medical appliance, 20202140282, and 10 in March 21st. The 10000 class clean workshop has been completed and used for the production of medical surgery, N95 sterile sterile mask and protective clothing. Second kinds of medical device registration certificates and second types of medical device production permit procedures for related products are also being stepped up. Meanwhile, the company masks and protective clothing products also obtained FDA certification and CE certification in March 2020.

With the development of the epidemic and the demand for protective materials at home and abroad, the expected sales revenue of the company's protective materials products can make up for the decline in the sales revenue of clothing sales caused by the epidemic. In the first quarter, the sales revenue of the anti epidemic materials sold by cool intelligence reached 43 million 891 thousand and 100 yuan, accounting for 38.76% of the first quarter revenue in 2020.